Pasco Home Buying Guide for First-time Buyers
April 25, 2010
If you are thinking of buying a house in Pasco or anywhere else, it is a good idea to equip yourself with home buying knowledge, so nobody can pull the wool over your eyes. You will know exactly what you are getting into and you will know how to get an agent who can help you pull off a really great deal.
Reservations and hesitations are common to first-time home buyers. This is why if you are thinking of buying a home for the first time, you should definitely get the best Pasco real estate agent that you can afford. It is natural that you might have a lot of questions. You will feel nervous and all mess up. It’s normal to feel that way. After all, you will be spending thousands of dollars on a huge investment. It is not easy to part with that amount of money. It is even harder to enter into a huge financial obligation. For some people, buying a house is probably the biggest investment they will ever make.
Should You Really Buy a House?
Most first-time homebuyers harbor a lot of fears about buying a new home. Some, if not all, fears are justified. After all, not everyone is ready to buy a house. Not everyone has the means to do so. If you feel that you are one of them, it is definitely a good idea to consider everything before you actually start the buying process with your Pasco real estate agent.
First of all, ask yourself if you should be buying a house at all. Would it be better if you just rent a house instead? Renting has its drawbacks of course, but for some people, it is still a better option especially if they are not ready for the huge financial responsibility attached to buying a house.
There are fairly good reasons why you should buy a house, but you should consider all these reasons if they apply to you before you actually go out and buy one. You should also consider your financial situation. Is it the right time for you to buy a house in Pasco and take up a huge loan? How long have you been working in the company you are with? Do you have enough savings for your deposit? Are you emotionally ready to take on this responsibility?
Get Your Finances in Order
If you do not want to have a huge financial headache, you have to get your finances in order before you actually start the process of buying a house. Your Pasco real estate agent may be able to recommend a good lender, but it is still up to you to make to make sure that you will be able to secure a good loan. This means that you need to make sure that you have a good standing credit and history.
Once you have clean up your credit report, you can devote your time to looking for a good lender who can give you good rates, fees and terms. You can check out Pasco lending companies. You can interview mortgage brokers as well. You can also check out FHA loans. You also need to prepare your down payment. Get yourself a preapproval letter as well. You will find it easier to convince sellers to consider your offer if you have a preapproval letter attached to your purchase offer.
Get Yourself a Really Good Pasco Real Estate Agent
You need a agent to guide you through the whole buying process. You may feel that you can do it on your own, but it is definitely a good idea to get the assistance of someone who knows the ins and outs of the business. You will be able to avoid the usual home buying mistakes that first time homebuyers commit.
Should You Consider Pasco Properties for Short Sale?
April 20, 2010
Short sale Pasco properties often come with a “great bargain” tag price. However, buying them may not be such a good idea. In fact, there are Pasco realtors who would talk their clients out of buying these kinds of properties. Admittedly, many agents will not talk you out of it. But what are the reasons why you should not consider short sale homes?
What are short sales to begin with?
Short sale homes for sale in Pasco are actually owned by sellers who defaulted in their mortgage payments. The lenders are forced to accept an amount less than the existing loan.
On the surface, short sales are seemingly great, but this is not the case. In fact, buyers are better off buying a property that is not encumbered by mortgages or loans. Most real estate agents, however, will not tell you this. After all, they tend to gain from these types of sale. In truth, everyone gains except the seller and the buyer, so if you really want to get a great bargain, you should avoid these properties.
Short sale properties are usually pre-foreclosure properties. Sometimes, listing agents encourage sellers to put these properties up for short sale. This usually works to their advantage because they will not be able to win the listing if the Pasco property goes through foreclosure.
Here are a few reasons why buyers would avoid short sales:
- The seller has no equity. You, as a buyer, do not earn free equity from short sales. Usually, the seller has no equity, so he has no choice but to put up his property at a price which is less than his purchase price of the same property.
- The seller owes the bank an amount that is more than the value of the property. Sometimes, banks allow property owners to over-mortgage their home. As a result, the loan is bigger than the actual value of the property.
- The seller may not really qualify for short sale. Sometimes, in order to avoid foreclosure and with the insistence of an unethical Pasco realty agent, a home seller can put up his property for short sale despite the fact that he is not really qualified to do the same. Sellers need to prove financial hardship in order to qualify for short sale.
- The property sells at market value. Lenders know their figures and if they know that they can get more money out of foreclosure, they will definitely hold out for a bigger amount. They may put out the property for short sale, but the price may be considerably equal to its market value.
- Buyers end up paying for the “property as is”. This means that the buyer may end up paying for repairs, inspection, certifications, protection plans and deferred payments.
Pasco Real Estate Home for Sale. $79,900 3bd/2.00ba. – RITCHIE, JOHN of NowRealty.com
April 7, 2010
http://www.tricitiesidx.com/listing.php?site_id=3&mls=167222
MLS Number: 167222
Property Type: Residential
Price: $79,900
Beds: 3
Baths: 2.00
Sq. Ft.: 1232
Year Built: 1999
Lot Size: Irregular
City: Pasco
Address: 316 N Elm
Date Listed: 2010-03-12
Description: Three bedroom, two bath, Redmond manufactured home on city lot. Split bedroom design.
For more information on this listing, please contact:
Listing Agent
RITCHIE, JOHN
509-528-3440
Broker
Prudential Now Realty
509-783-2112
info@nowrealty.com
http://NowRealty.com
Serving the Kennewick, Pasco and Richland Area
—————————–
Are you a real estate broker and want to see your listings on YouTube? Call us at 877-700-2519, visit http://cevado.com or email sales@cevado.com.
The data relating to real estate for sale on this web site comes in part from the IDX program of the Tri-City Association of REALTORS Multiple Listing Service.
Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Pasco Real Estate Home for Sale. $225,000 4bd/3.00ba. – KENMORE, LANCE of NowRealty.com
April 5, 2010
http://www.tricitiesidx.com/listing.php?site_id=3&mls=165951
MLS Number: 165951
Property Type: Residential
Price: $225,000
Beds: 4
Baths: 3.00
Sq. Ft.: 2490
Year Built: 2002
Lot Size: Irregular
Number of Acres: 0.30
City: Pasco
Address: 1 Dahlia Court
Date Listed: 2010-01-15
Description: Sensational home located in quiet community near the river. Walking paths abound and a very easy commute to anywhere. Inside gorgeous custom tile work throughout on the floors. Fabulous kitchen with granite slab countertops and island. Master suite on main floor with lovely hardwood flooring and granite counters continue in the spacious master bath. Two additional bedrooms on the main level, bonus room and additional bedroom on upper level. Too many fantastic items to mention!
For more information on this listing, please contact:
Listing Agent
KENMORE, LANCE
509-727-8977
Broker
Prudential Now Realty
509-783-2112
info@nowrealty.com
http://NowRealty.com
Serving the Kennewick, Pasco and Richland Area
—————————–
Are you a real estate broker and want to see your listings on YouTube? Call us at 877-700-2519, visit http://cevado.com or email sales@cevado.com.
The data relating to real estate for sale on this web site comes in part from the IDX program of the Tri-City Association of REALTORS Multiple Listing Service.
Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Duration : 0:0:49